Mobile Banking Adoption: Integrating UTAUT, Task Technology Fit, and Initial Trust with Financial Literacy

Abstract

Purpose—This study aims to develop an integrated model of mobile banking adoption by integrating the Unified Theory of Acceptance and Use of Technology (UTAUT), Task Technology Fit (TTF), and the Initial Trust Model (ITM). It examines the relationship between acceptance factors, technology task alignment, and trust in affecting behavioural intention and adoption, and evaluates the moderating effect of financial literacy.

Study Design/methodology/approach—A Structured questionnaire was distributed amongst 282 consumers in Islamabad, Pakistan. Data was analysed using Partial Least Squares Structural Equation Modelling (PLSSEM) to assess construct reliability, validity, and hypothesized relationships.

Findings— The variance in behavioural intention and adoption was 53.1% and 32.6% respectively, explained by the integrated model. Social influence and facilitating conditions were found to have significant effects on intention, but there were no significant effects of performance and effort expectancy. Technology and task characteristics had a positive influence on TTF, but TTF was found to have no direct effect on adoption. A particular quality of the system proved to be a powerful predictor of intention, while information quality was less influential. Actual adoption was predicted by behavioural intention very well. Financial literacy enhanced behavioural intention and amplified the impact of social influence, particularly among highly literate users.

Practical Implications— Reinforcement of trust cues, guarantee of high system quality, maintenance of facilitating conditions, and leverage of social influence among financially literate customers are required from the Banks and fintech providers.

Originality/value—The study integrates UTAUT, TTF, and ITM with Financial Literacy as a moderator, which is a novel contribution in the Pakistani mobile banking context.